Guinness Atkinson Asset Management Inc Decreases Stock Holdings in The Coca-Cola Company (NYSE:KO)

Guinness Atkinson Asset Management Inc cut its stake in The Coca-Cola Company (NYSE:KO) by 3.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,576 shares of the company’s stock after selling 452 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Coca-Cola were worth $904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. New Millennium Group LLC acquired a new stake in Coca-Cola during the second quarter worth $26,000. Quarry LP acquired a new stake in shares of Coca-Cola during the second quarter valued at about $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Coca-Cola in the 1st quarter worth approximately $28,000. ESL Trust Services LLC purchased a new position in shares of Coca-Cola during the 1st quarter worth approximately $28,000. Finally, DiNuzzo Private Wealth Inc. increased its holdings in Coca-Cola by 65.0% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 523 shares of the company’s stock valued at $32,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 19,304 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the transaction, the executive vice president now directly owns 223,330 shares in the company, valued at $14,507,516.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Nancy Quan sold 19,304 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $64.96, for a total transaction of $1,253,987.84. Following the transaction, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,507,516.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bruno Pietracci sold 38,653 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $69.01, for a total value of $2,667,443.53. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 376,096 shares of company stock worth $25,982,352. 0.97% of the stock is currently owned by insiders.

Coca-Cola Stock Performance

Shares of KO stock traded up $0.32 during trading hours on Friday, hitting $69.57. The stock had a trading volume of 8,786,318 shares, compared to its average volume of 13,216,886. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 0.92. The firm has a market capitalization of $299.70 billion, a PE ratio of 27.83, a PEG ratio of 3.92 and a beta of 0.60. The stock’s 50 day moving average is $70.51 and its 200 day moving average is $65.39. The Coca-Cola Company has a twelve month low of $52.43 and a twelve month high of $73.53.

Coca-Cola (NYSE:KO) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.03. Coca-Cola had a net margin of 22.92% and a return on equity of 43.62%. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.78 billion. During the same period last year, the firm posted $0.78 EPS. Coca-Cola’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, research analysts forecast that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.94 dividend on an annualized basis and a yield of 2.79%. Coca-Cola’s payout ratio is 77.60%.

Analysts Set New Price Targets

Several research firms have recently commented on KO. Barclays raised their price target on Coca-Cola from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday. Truist Financial upped their target price on shares of Coca-Cola from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company increased their target price on shares of Coca-Cola from $73.00 to $78.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Citigroup upped their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Bank of America lifted their target price on Coca-Cola from $68.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $71.33.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.